Thomson's manual of Pacific Northwest finance

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Monograph

Identifikator:: 1838857176

URN:: urn:nbn:de:zbw-retromon-229226

Document type:: Monograph

Title:: Thomson's manual of Pacific Northwest finance

Place of publication:: Seattle

Publisher:: Thomson's Statistical Service

Year of publication:: 1930

Scope:: XXX, 487 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Section VIII. Industrials

Collection:: Economics Books

{(NDUSTRIALS 36) MALTBY-THURSTON HOTELS, INC. GENERAL OFFICE: 706 Pike Street, Seattle, Wash. HISTORY: Incorporated under laws of Washington, successor of a partnership, having its inception in 1911, when H. E. Maltby and S. W. Thurston leased the Wright Hotel, 710 First Ave. Seattle. Leases on other historic and well-known hotels were acquired as follows: Brunswick, 1913; Rainier Grand, 1916 (torn down in 1930 to make way for federal postoffice); Stevens, 1917; New Richmond, 1918; Lincoln, 1919 (destroyed by fire in 1920); Georgian, Imperial, Georgian An- nex, McKay, all in 1920; Windsor, 1923; Waldorf and Wilhard, 1924. All of the foregoing hotels were disposed of by the company for various reasons, at various times. OEPRATIONS: Maltby-Thurston Hotels, Inc, acts as a holding company, super- vising operations of subsidiaries, either wholly or partly owned through hold- ings of both Preferred and Common stocks thereof. Subsidiary companies’ hold- ings variously comprise ownerships of titles, or of rights to titles, of leaseholds and of operating leases. Ten hotels were operated in 1930, as follows: The Bellingham . . Bellingham The Lewis-Clark ._..... The Benjamin F Seattle The Marcus Whitmes: The Cambridge Seattle The Monte Crist The Camlin ........ Seattle The President The Columbia .......... wenatchee The Waldorf . Contracts have been made for the following: One-half interest in operating lease upon, with eventu: Ppl unity to ac- quire title to, the Boise Community Hotel, Boise, Idaho, upon which construction was commenced in 1930. Operating lease upon new Roosevelt Hotel, construction upon which started in 1930, being built by the First Realty Corporation on the southwest corner of ith Ave. and Pine St., Seattle. One-half interest in operating lease upon the Edmond Meany Hotel, the University District Community Hotel, at East 45th St. and Brooklyn Ave., Seattle Construction expected to start in 1930. OFFICERS: S. W. Thurston, Pres.; H. E. Maltby, Sec'y.-Treas. DIRECTORS: H. E. Maltby, Seattle, Treas.; S. W. Thurston, Seattle, Pres.: W. D. Comer, Seattle, Pres. Puget Sound Sav. & Loan Assn.; N. B. Hannay, Mt. Vernon, Pres. First National Bank; E. L. Mann, Wenatchee, Capitalist; Charles T. Don- worth, Seattle, Attorney-at-Law; Earl McInnes, Bellingham, Mgr. The Belling- ham Hotel; Troy E. Mimmelman, Seattle, Mgr. The Benjamin Franklin Hotel: H. P. Pratt, Seattle, Partner, H. P. Pratt & Co., Investment Securities; S. P Barash, Seattle, Real Estate & Investments; H. W. Casson, Seattle, Auditor GENERAL COUNSEL: Chas. T. Donworth, Seattle, Wash. GENERAL AUDITORS: Harold L. Scott & Co., Seattle. Wash. Fiseal Year Ends: Dec. 31. 1. 2 ? CAPITALIZATION, As of Dee. 31, 1929 Par Value Authorized ceeeeeeeee..NO Par 10,000 shs sree 0 PAY 60,000 shs No Par 60 000 shs 37 Preferred Stock..o....oo...... Class A StocKo..ooo........ Common Stock Outstanding 4,314 shs 20,000 shs 29 447 shs 1. 87 PREFERRED STOCK Provisions: Preferred as to $7 per same rate upon payment of a premium year cumulative dividends and as to of $2.50 per share for Class A stock, 3100 per share in case of liquidation, and from Sept. 1, 1935, to Sept. 1, 1937, either voluntary or involuntary, over at the rate of $5.00 per share. In case any other class of stock. of conversion at other than quarterly Callable: As whole or in part, on declared dividend dates, company will any dividend date after Sept. 1, 1931, at [Ssue a warrant for proportionate divi- 105 and accruals, on 30 days’ notice. lends to date of conversion. Convertible: At option of holders on Company covenants that no dilution or after Sept. 1, 1931, and until Sept. ©°f Class A or Common stock equities 1, 1933, into Class A Participating Pref- shall ever occur which would be detri- erence stock, at rate of four shares of mental to these conversion privileges. Class A stock for one of Preferred; Dividends: Payable quarterly, Jan., from Sept. 1, 1933, to Sept. 1, 1935, con- Apr.,, July and Oct. 1, paid regularly to version privilege is extended at the July 1. 1930. 2. CLASS A PARTICIPATING PREFERENCE STOCK tion and in any benefit accruing from or title to any surplus and undivided profits. If, for any given semi-annual or greater period, dividends are de- clared on the outstanding Class A Participating Preference stock and not »n the Common stock, the Class A Par- icipating Preference stock shall not thereby be deprived of its subsequent nterest in earnings above the rate of Provisions: Preferred as to cumula- tive dividends at the rate of 87% cents per share per six months dividend peri- od, before any declarations of divi- dends on Common stock. After declar- ation of dividends of like amount per share on Common stock, all Class A Participating Preference and Common stock to participate equally (share for share) in anv further dividend declara-

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